Chart of the week: Profit doubts
Markets globally expect earnings to rise over the next 12 months. Whether in the US or emerging markets, everywhere the expected earnings-per-share are above the current ones. Whether this will happen is doubtful.
Capital Group | Why the next economic recovery may be stronger than expected
Three questions have weighed on investors’ minds for months: Will there be a recession? How bad will it be? And what comes next?
Nordea AM: Engagement – not avoidance – is crucial to real emissions change
We have witnessed a significant investor exodus from heavy-emitting companies in recent years. The rise of ESG is a key factor in this flight of capital, as asset managers want to demonstrate sustainability credentials.
Luxembourg banks seek legal clarity on use of generative AI
Luxembourg’s banking sector is asking data protection and financial services authorities to provide more clarity on the use of generative AI tools like ChatGPT. Presenting its survey on the use of ChatGPT, bank sector group ABBL on Thursday said 38 per cent of bank employees are currently blocked from using such tools, which is significantly more than the average of 24 percent for the sector as a whole.
Brown Brothers Harriman to support Schroders’ first Eltif
Brown Brothers Harriman (Luxembourg) S.C.A. said on Thursday it has been selected by Schroders Capital as central administrator and depositary bank for the launch of its first European Long-Term Investment Fund, or Eltif.
Alter Domus buys IT platform Solvas from Deloitte
Luxembourg-based fund administrator Alter Domus said on Thursday that it has acquired the Solvas suite of business IT solutions from Deloitte Touche LLP, a subsidiary of Deloitte LLP, for an undisclosed amount.
Owners of Degroof Petercam want to sell their shares
Belgium’s largest independent private bank, Degroof Petercam, is considering a major reshuffle of its ownership structure that could potentially lead to a new majority shareholder. Some of the existing owners, mainly Belgian noble families but also undefined “financial partners”, have indicated they want to sell their shares.
A deal could be worth more than one billion euro. Belgian state-controlled financial group Belfius, Credit Agricole, ING Groep and Royal Bank of Canada are reported as being possible bidders.
EDB bolsters governance with new global role
European Depositary Bank, a Luxembourg-headquartered provider of banking, depositary and custody solutions that is part of the Apex Group, on Wednesday said it has appointed executive board member Holger Barth in a new role as global head of banking depositary.
The appointment further bolsters EDB’s governance, which had been problematic for a number of years.
Fixed income in 2023: Invesco’s flexible approach for navigating market uncertainty
We are not in the business of crystal balls but, as we peered into 2023, it was clear that the outlook for the year to come would hinge on inflation. Specifically, had it peaked?
Costly outsourcing is not the solution
The CSSF has spent the last decade ramping up reporting requirements on fund management companies. In response, the fund industry has invested heavily in automation and now most reports are generated automatically.
If only this was true!